Elastic (NYSE:ESTC) Shares Sold by Titan Global Capital Management USA LLC

Titan Global Capital Management USA LLC reduced its stake in Elastic (NYSE:ESTC - Free Report) by 8.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,589 shares of the company's stock after selling 3,401 shares during the quarter. Titan Global Capital Management USA LLC's holdings in Elastic were worth $3,526,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Elastic by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company's stock valued at $926,607,000 after purchasing an additional 168,483 shares during the period. Pictet Asset Management Holding SA boosted its holdings in Elastic by 15.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock valued at $339,820,000 after purchasing an additional 462,974 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Elastic by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company's stock valued at $142,663,000 after buying an additional 45,076 shares during the period. State Street Corp increased its holdings in shares of Elastic by 2.3% during the 3rd quarter. State Street Corp now owns 1,437,243 shares of the company's stock worth $110,323,000 after buying an additional 31,663 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Elastic during the 4th quarter valued at approximately $102,485,000. 97.03% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In related news, CTO Shay Banon sold 25,668 shares of the stock in a transaction on Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the completion of the sale, the chief technology officer now directly owns 2,408,541 shares of the company's stock, valued at $271,033,118.73. This trade represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the completion of the transaction, the chief executive officer now directly owns 376,591 shares in the company, valued at $34,183,165.07. This represents a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 198,304 shares of company stock valued at $20,847,452. Insiders own 15.90% of the company's stock.

Elastic Stock Up 0.5 %

ESTC stock traded up $0.36 during midday trading on Tuesday, reaching $79.78. 1,830,591 shares of the company were exchanged, compared to its average volume of 1,361,586. The stock's 50-day simple moving average is $98.12 and its 200 day simple moving average is $96.59. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The company has a market cap of $8.33 billion, a price-to-earnings ratio of 145.05 and a beta of 1.19.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.48). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The company had revenue of $382.08 million during the quarter, compared to analysts' expectations of $368.85 million. On average, equities analysts forecast that Elastic will post -0.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Truist Financial reduced their target price on Elastic from $145.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Wells Fargo & Company increased their target price on shares of Elastic from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. UBS Group boosted their price target on shares of Elastic from $140.00 to $148.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Scotiabank dropped their target price on shares of Elastic from $140.00 to $137.00 and set a "sector outperform" rating for the company in a report on Thursday, March 27th. Finally, Canaccord Genuity Group upped their price target on Elastic from $130.00 to $135.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $128.35.

Elastic Profile

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.